The cost of renting a home in Dubai has fallen this year, meaning greater choice and more space for tenants.
A new report by property company Cushman & Wakefield Core said activity surged between July and September as rents fell.
Rents in Dubai's desert communities – including Jumeriah Village Circle, Dubai Sports City and Dubailand – were down by as much as 20 per cent from the previous year in some cases, it said.
That allowed some tenants to negotiate with landlords while others chose to move to bigger properties at little or no extra cost.
A glut of new properties has created a renter's market in Dubai. The coronavirus pandemic and the upheavals that followed put more pressure on prices, and families found they needed larger living areas and outdoor spaces for home working and school studies.
“Most of these upgraders are actually paying lower rents than before, with very few going above their previous rental,” the report said.
“While landlords may not completely agree with increasing tenant demands, most are now willing to negotiate lower rents and flexible lease terms upon renewal to retain tenants.”
Here are seven areas in Dubai where rents have become more competitive in 2020.
Sports City
Prices here fell by a fifth between July and September this year compared to the same period last year.
With a mix of studios, one, two and three-bedroom apartment flats on offer, there are plenty of options.
The nicest areas in Sport City offer leafy streets, and properties are typically in the brand new to 10-years-old bracket.
The latest data from www.propertyfinder.ae shows the average price for a one-bedroom flat in the area is about Dh35,000. A two-bedroom property would cost about Dh50,000 a year.
Located on Mohamed bin Zayed Road, the area has easy access to Hessa Street, which is connected to Sheikh Zayed Road and the heart of the city.
Dubailand According to Cushman & Wakefield Core’s report, rents in this affordable district fell about 18 per cent in the past three months.
Greater Dubailand area includes residential communities such as Remraam, Mudon, Motor City and Al Barari, which offer a range of flats, semi-detached and terraced townhouses and detached villas.
Depending on the location, tenants can expect to pay an average of Dh29,000 a year for a one-bedroom property. That rises to Dh50,000 for a two-bedroom flat.
There are highly rated schools nearby, including Jebel Ali School, Dubai British School – Jumeirah Park and South View School.
The Greens and Views
This area is well-established and borders Barsha Heights, which boasts a number of hotels, restaurants and shops.
A mixture of low-rise residential buildings offer studio flats up to four-bed duplexes. The area is popular with pet owners, who appreciate its space and lush greenery.
In the third quarter of the year, rents in The Greens and The Views fell by about 15 per cent compared to the same period last year.
Today, a one-bedroom flat in The Greens and The Views respectively will cost on average Dh48,000 and Dh64,000.
For those in need of more space, rent for a large two-bed flat is about Dh80,000 and Dh96,000 a year respectively.
Jumeirah Lakes Towers
Jumeirah Lakes Towers is located across from Dubai Marina and is a good place for people who crave the hustle and bustle of city life.
Rental prices in this popular neighbourhood are down this year. Cushman & Wakefield Core reported a 14 per cent decrease in rents in JLT across studio, one, two and three-bedroom flats between July and September compared to the year before.
Tenants can rent a spacious one-bedroom home for Dh50,000. For those with more to spend, a two-bedroom flat costs close to Dh70,000 to rent.
For families with children, there are a number of schools close by including Dubai British School – Jumeirah Park, Dubai International Academy and Regent International School.
Business Bay
This is a good alternative to Downtown Dubai, which is in reach.
Prices in Business Bay fell by about 14 per cent, meaning a one-bedroom flat will cost Dh60,000 to rent for a year.
If more space is required and the budget allows, renters can expect to pay about Dh85,000 a year for a two-bedroom home.
With sweeping views of Downtown Dubai, including the Burj Khalifa, this area is now an affordable spot for young professionals.
Minutes from Sheikh Zayed Road, it boasts the Dubai Water Canal Walk, hotels, and a choice of Metro stations.
Discovery Gardens
Located in the north-west of the city, Discovery Gardens has long been regarded as one of Dubai's most affordable areas.
Rents there were down by an average of 13 per cent between 2019 and 2020, according to Cushman & Wakefield Core.
Tenants will pay Dh36,000 a year for a spacious one-bedroom flat, and many studio flats cost less.
A two-bedroom property can be rented for Dh58,000 a year.
One of the biggest selling points is the soon-to-be-opened Expo 2020 Dubai metro line. The arrival of seven more stations means residents will be less reliant on taxis and buses and better connected to the rest of the city.
Dubai Marina
A favourite for young expats because of its bars and restaurants, Dubai Marina is often considered an expensive place to rent.
Now, with rents down by 12 per cent in the third quarter of 2020 compared to the autumn of last year, Dubai Marina has become a more affordable option.
A one-bedroom flat will, on average, cost Dh61,000 to rent for a year.
For those in need of more space, Dh90,000 a year will pay for a two-bedroom home.
The area is served by several Metro stations, shopping and entertainment at Marina Mall, access to nearby beaches, and is close to Media City, where thousands of professionals work.
